Re: Holy budget deficit, Batman

From: Tim Jowers (timjowers_at_yahoo.com)
Date: 10/12/04 

Date: 12 Oct 2004 12:02:57 -0700

"sinister" <sinister@nospam.invalid> wrote in message news:<7RJad.5005$YU4.3314@trnddc06>...
> "Warble606" <warble606@yahoo.com> wrote in message
> news:4d62b9bc.0410091621.7e6cf0aa@posting.google.com...
> >I for one do not understand what the reasoning of
> > (US) society's "upper class" and "corporate leaders"
> > could possibly be when we have a situation where
> > we are paying $330 billion per year in interest
> > on our national debt (roughly $7.4 trillion), and
> > the only president who managed to begin to set up
> > a budget surplus in order to pay off just the interest,
> > not the principal, was hounded out of office because
> > of a floozy.
>
> It's pretty obvious; the bastards think that taxes should be paid---and only
> paid---by little people.
>

Can somebody please tell me if the debt is a balance *** debt or a
grand total? That is, do we also have credits equal to our debt on the
other side of the balance ***? E.g. does Japan owe us 1/2 trillion
just like we owe them?

Thanks! TimJowers